Immutable (company)

Immutable Pty Ltd.
FormerlyFuel Games
Company typePrivate
IndustryCrypto Assets
Video Gaming
Founded2018
FounderRobbie Ferguson,
James Ferguson,
Alex Connolly
Headquarters
Sydney, Australia
ProductsGods Unchained
Guild of Guardians
Websitehttps://www.immutable.com/

Immutable Pty Ltd (formerly Fuel Games) is an Australian cryptocurrency company which develops blockchain games and non-fungible tokens (NFTs). The company was founded in 2018 and headquartered in Sydney, Australia.

Overview

Robbie Ferguson, James Ferguson, and Alex Connolly founded Fuel Games in 2018.[1]

The company's first blockchain-based game, Etherbots, was released in February 2018, allowing players to own and battle digital robots on the Ethereum blockchain.[1]

In July 2018, Fuel Games launched the pre-sale of Gods Unchained, marketed as a blockchain-based e-sport. This followed a successful $2.4 million seed funding round led by Continue Capital and Nirvana Capital, with additional support from Sora Ventures and Coinbase.[1]

In 2019, Fuel Games rebranded as Immutable and expanded its focus to include an NFT exchange platform.[2] The company developed Immutable X, an Ethereum Layer-2 blockchain, in collaboration with StarkWare. Immutable X has been used to build NFT marketplaces for companies including TikTok, GameStop, Illuvium and Bright Star Studios, the developers of Ember Sword.[3] It also supports the back-end operations of Disney and Marvel's crypto businesses.[4] The company purports to offset carbon via carbon credit programs.[5] In 2019, Immutable offered to cover the prize money that had been withheld by another gaming company from a professional gamer who had expressed support for Hong Kong protests against the government at the time.[6]

In 2021, Immutable partnered with NRG Esports to create NFT collectibles for the "Guild of Guardians" mobile RPG, raising $3 million through the sale of founders' collectible NFTs.[5] In February 2022, Immutable announced a $100 million fund in partnership with GameStop to offer grants for NFT gaming projects.[3] The following month, the company raised $200 million in Series C funding led by Temasek, with participation from Tencent and Animoca Brands, valuing the company at $3.5 billion.[4][3] In 2022. In July, the company laid off at least 20 staff members, including core members of the Gods Unchained team. Additionally, the value of Immutable's cryptocurrency token, IMX, used for trading assets in Gods Unchained, dropped from about $11 in November 2021 to just above $1 in July 2022.[7]

Products

Gods Unchained

Gods Unchained is a collectible trading card game featuring NFTs for each card, available on Android, iOS, Microsoft Windows and MacOS. Launched in 2019, the production of the game was directed by Chris Clay, former game director of Magic: The Gathering Arena.[8] In September 2022, Immutable and GameStop announced plans to allow GameStop PowerUp Pro subscribers to receive free expansion packs in Gods Unchained.[8]

In December 2023, the Entertainment Software Rating Board (ESRB) rated Gods Unchained, along with another game, as "Adults Only 18+" (AO) due to their use of cryptocurrency. This led to a temporary removal from the Epic Games Store, though it was later reinstated after Epic Games updated its content policy.[9]

Guild of Guardians

Guild of Guardians is a fantasy squad-based RPG developed by Immutable and Mineloader, launched in May 2024.[10] In the game, players assemble teams of characters called Guardians to progress through increasingly difficult dungeons, craft items, and summon new heroes.[5][10] Guild of Guardians uses NFTs and a cryptocurrency wallet for handling in-game transactions.[10]

References

  1. ^ a b c Hargreaves, Imogen (10 July 2018). "Australian developer launches bid to become first blockchain-powered eSport with Gods Unchained". PC World Australia. Archived from the original on 28 June 2022. Retrieved 2024-11-15.
  2. ^ Santoreneos, Anastasia (2022-09-22). "The billion dollar brothers". Forbes Australia. Archived from the original on 2023-01-02. Retrieved 2024-11-15.
  3. ^ a b c Sier, Jessica (7 March 2022). "Aussie crypto star Immutable banks $280m at $3.5b valuation". Australian Financial Review. Archived from the original on 2022-03-07. Retrieved 2024-11-15.
  4. ^ a b Sprague, Julie-anne (25 May 2022). "How the $1b Ferguson brothers plan to keep winning the crypto race". Australian Financial Review. Archived from the original on 2022-05-26. Retrieved 2024-11-16.
  5. ^ a b c Takahashi, Dean (2021-08-14). "Immutable's Guild of the Guardians NFT game teams up with NRG Esports". VentureBeat. Archived from the original on 2024-07-02. Retrieved 2024-11-15.
  6. ^ Bonyhady, Nick (2019-10-09). "Sydney startup faces cyber attack after supporting pro-Hong Kong gamer". The Sydney Morning Herald. Archived from the original on 2019-10-09. Retrieved 2024-11-15.
  7. ^ ">Ryan, Jackson (26 July 2022). "'Crypto Star' Immutable, Creator of NFT Game Gods Unchained, Lays Off Over 20 Staff". CNET. Archived from the original on 2024-07-01. Retrieved 2024-11-19.
  8. ^ a b Denzer, TJ (2022-09-14). "Gods Unchained NFT trading card game is giving GameStop PowerUp Rewards Pros free expansion packs". Shacknews. Archived from the original on 2024-07-02. Retrieved 2024-11-19.
  9. ^ Chalk, Andy (20 December 2023). "The ESRB has started slapping blockchain games with Adults Only ratings, so Epic has changed its store policy to allow them". PC Gamer. Retrieved 2024-11-16.
  10. ^ a b c Takahashi, Dean (2024-05-15). "Guild of Guardians debuts as Web3 hybrid mobile RPG on app stores". VentureBeat. Retrieved 2024-11-16.